Compulsory Travel Insurance

12 June 2015 – The Singapore Tourism Board (STB) announces a new licensing condition that will require all licensed travel agents in Singapore to seek the decision of their outbound leisure customers regarding the purchase of travel insurance that covers travel agent insolvency. This will take effect from 15 July 2015.

The new condition serves to educate consumers of the measures they can take to protect their interests when they make their travel bookings. It comes after STB’s continued engagement with industry members over the past year to assess the feasibility of various consumer protection measures.

Based on feedback from NATAS and a number of industry players, the condition will apply in the cases on a per person basis when a consumer (i) pays a deposit or makes a payment of S$500 or above, or (ii) purchases a travel package costing S$1,000 or above. Travel agents are required to record their customers’ decision on whether to purchase travel insurance.